The double entry to record the proceeds on disposal of assets in debit
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Correct Answer: Option C
Explanation:
Debit provision for Depreciation account (to remove the equipment's up-to-date accumulated depreciation), Credit the account Equipment (asset disposal account) to remove the equipment's cost.
Debit provision for Depreciation account (to remove the equipment's up-to-date accumulated depreciation), Credit the account Equipment (asset disposal account) to remove the equipment's cost.